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Mlm Quality Control

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johntucci

Freshman Member
Joined
Jul 14, 2006
Professional Status
Certified Residential Appraiser
State
Florida
A few days ago I was taking a continuing ed class and one of the fellow appraisers in the class asked the instructor a question and the instructor wasn't sure how to answer. The appraiser asked , " when working with these MLM companies and he mentioned a name I never heard of , "are the people that work in thier quality control department reviewing the reports before they go off to the client, do those people have to be an appraiser?" The instructor says he didn't think so, but most of us argued that they at least should be, but we didnt know if it is a requirement ....So that would mean that if these mlm companies are allowed to hire anyone to review the work of appraisers who have to, at a minimum, take the required continuing ed and USPAP update. The person asking the question went on further to say that this MLM company that he was working with did not use appraiser to review the work of the appraisers and he was constantly having issues with the MLM QC department, asking him to use different comp sales, that the value was not what he ordered !!!
So what i am asking is, is it OK for these MLM companies not use Appraisers to review the appraisers work before it goes off to the client, if appraisers are a requirement, I bet there are plenty of these creepy middlemen trying to split our fees in half out there breaking the rules, any feedback .... I will try any angle to rid our industry of these companies that have been stepping in between appraisers and clients, all that they really offer is a way to assign and track an order and they are the ones putting on the "hit the value" and 2 day turn time pressure, after cutting fees in half
thanks for reading
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
I don't know what MLM stands for, but I do know that anyone can review an appraisal when they are not providing a market value estimate; and anyone can review an appraisal and come up with their own market value if the FRT amount is less than $250,000.
 

PropertyEconomics

Elite Member
Joined
Jun 19, 2007
Professional Status
Certified General Appraiser
State
New Mexico
I don't know what MLM stands for, but I do know that anyone can review an appraisal when they are not providing a market value estimate; and anyone can review an appraisal and come up with their own market value if the FRT amount is less than $250,000.


Multi Level Marketing ... aka ... AMC.

I agree with you Jim .. anyone with a check list can review an appraisal report. Underwriters are certainly allowed to and they dont have to be an appraiser to do so or to change the value for lending purposes.
 

c w d

Senior Member
Joined
Oct 2, 2006
Professional Status
General Public
State
Florida
Multi Level Marketing ... aka ... AMC.

I agree with you Jim .. anyone with a check list can review an appraisal report. Underwriters are certainly allowed to and they dont have to be an appraiser to do so or to change the value for lending purposes.

Yes, and how else do you control what is "good" and what is not if your quality control team knows what they're doing?
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I don't know what MLM stands for, but I do know that anyone can review an appraisal when they are not providing a market value estimate; and anyone can review an appraisal and come up with their own market value if the FRT amount is less than $250,000.

I don't think that is true here in TN. If you give an opinion of value on any real property you have to be licensed or certified here.
 
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